First Bancorp, Inc (ME) (NASDAQ:FNLC) Stock Price Crosses Above Two Hundred Day Moving Average – Here’s Why

First Bancorp, Inc (ME) (NASDAQ:FNLC)’s share price passed above its two hundred day moving average during trading on Monday . The stock has a two hundred day moving average of $26.70 and traded as high as $27.72. First Bancorp, Inc (ME) shares last traded at $27.51, with a volume of 19,345 shares trading hands.

Wall Street Analyst Weigh In

Separately, Weiss Ratings upgraded First Bancorp, Inc (ME) from a “hold (c+)” rating to a “buy (b-)” rating in a research note on Wednesday, February 4th. One equities research analyst has rated the stock with a Buy rating, According to MarketBeat, First Bancorp, Inc (ME) has an average rating of “Buy”.

First Bancorp, Inc (ME) Price Performance

The stock’s fifty day moving average price is $27.75 and its 200-day moving average price is $26.70. The firm has a market cap of $308.66 million, a PE ratio of 8.96 and a beta of 0.58. The company has a debt-to-equity ratio of 0.35, a current ratio of 0.87 and a quick ratio of 0.87.

First Bancorp, Inc (ME) (NASDAQ:FNLC) last posted its quarterly earnings results on Wednesday, January 21st. The bank reported $0.91 earnings per share for the quarter. First Bancorp, Inc (ME) had a net margin of 19.36% and a return on equity of 12.90%. The firm had revenue of $21.81 million for the quarter.

First Bancorp, Inc (ME) Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, January 16th. Stockholders of record on Tuesday, January 6th were issued a dividend of $0.37 per share. This represents a $1.48 annualized dividend and a dividend yield of 5.4%. The ex-dividend date was Tuesday, January 6th. First Bancorp, Inc (ME)’s payout ratio is currently 48.21%.

Institutional Investors Weigh In On First Bancorp, Inc (ME)

A number of large investors have recently made changes to their positions in FNLC. CSM Advisors LLC acquired a new stake in shares of First Bancorp, Inc (ME) in the 2nd quarter worth $1,738,000. Focus Partners Wealth acquired a new position in shares of First Bancorp, Inc (ME) during the 1st quarter valued at about $1,500,000. Arrowstreet Capital Limited Partnership acquired a new position in First Bancorp, Inc (ME) in the 2nd quarter valued at about $729,000. TrueMark Investments LLC purchased a new stake in shares of First Bancorp, Inc (ME) in the 3rd quarter valued at approximately $575,000. Finally, Bridgeway Capital Management LLC increased its holdings in shares of First Bancorp, Inc (ME) by 230.0% during the 4th quarter. Bridgeway Capital Management LLC now owns 30,046 shares of the bank’s stock worth $794,000 after buying an additional 20,942 shares during the last quarter. 40.41% of the stock is currently owned by hedge funds and other institutional investors.

First Bancorp, Inc (ME) Company Profile

First Bancorp, Inc (NASDAQ: FNLC) is a Maine-based bank holding company headquartered in Dover-Foxcroft. Through its principal subsidiary, The First National Bank of Dover-Foxcroft, the company provides a full suite of community banking services to individuals, small businesses and nonprofit organizations. Its core deposit offerings include checking, savings, money market and certificate of deposit accounts, complemented by online and mobile banking platforms.

On the lending side, First Bancorp’s product portfolio spans consumer and residential mortgage loans as well as commercial and agricultural lending.